We at PeerFives often stress the importance of having a comprehensive peer recognition program. A peer recognition program that is effective can help any organization experience exorbitant and exponential growth within short periods of time. Thus, when some of the biggest and most successful organizations across the globe are studied carefully, one of the biggest reasons for their success shall be the diligent implementation of a peer recognition program.
Now, if you are wondering what an effective peer recognition program brings to the table, you must know that it helps keep your employees satisfied, it instills a sense of pride in them, the core values of the company remain intact, and attrition rates are often at all-time lows.
Considering all of the above, we are certain that most decision-makers at organizations reading this might be interested in having such a peer recognition program in place at their organization as well. Those that already have one may be looking to replace it with a more effective iteration of the same. However, creating an effective peer recognition program is not easy, and it requires consideration of multiple aspects and a clear strategy. Using our expertise in the domain, we at PeerFives wish to highlight how to create an effective peer recognition program via this blog post, so keep reading to know more.
In order to create an effective peer recognition program, it is vital that the decision-makers of an organization brainstorm to have an effective strategy in place.
This strategy must primarily cover the following points:
1. The Need For Recognition:
It is of supreme importance that everyone in the organization understands the need for a peer recognition program. Try and visualize how your organization shall implement the program and which resources will be needed. Often, companies kick start a peer recognition program with vigor but lose steam once the number of employees increases, and managing the program while balancing the costs become an added burden to address.
2. Identifying Key People:
In any organization, there are individuals who are born leaders. These individuals must be identified and tasked with the responsibility of helping the entire team understand the program. The involvement of these individuals shall lead to better formulation of the program, simpler communication, easier promotion, and insightful feedback.
Once the strategy is formulated, the broader aspects of the peer recognition program must be taken into consideration. These include the following:
1. The actions that need to be recognized and rewarded:
While crafting a peer recognition program for your organization, it is vital to understand which actions need to be recognized and rewarded. These actions could be work-related, these actions could uphold the morals of the organization, and they simply could be anything that can be incentivized for the overall progress of the organization.
2. Regularity of Recognition:
PeerFives has always pushed for instant recognition and reward for good work done by an employee in the organization. However, some organizations may want to keep their recognition and rewards limited to a weekly or monthly cycle. Our recommendation to those creating an effective peer recognition program is to ensure organic recognition, which shall only stem from instant recognition.
3. Making Recognitions Visible:
It is said, to criticize in private and praise in public. With peer recognition programs aiming to praise individuals for good work, it is necessary that the praise reaches out to as many people as possible within the organization. This shall not only add to the feeling of pride, but it shall also uplift the employees to do better work and earn further praise for themselves.
4. Specificity of Recognitions and Rewards:
Oftentimes, we recognize good work done and reward the individual. However, it is vital that everyone understands why an individual is being recognized and rewarded. Thus, having a peer recognition program that allows delving into details and giving complete credit to individuals for their work is essential.
Getting feedback from the employees in the organization is perhaps a key aspect of making any peer recognition program efficient and effective. The employees are the ones that shall be using it on a daily basis; hence, making it user-friendly, easy to understand, creative, and fun is the best way of getting on board while also taking suggestions from them to continuously make the experience better.
Formulating strategies and devising a peer recognition program does not make it effective or efficient. This process is a continuous one and requires those crafting it to be spontaneous and proactive. Thus, the following points must also be ensured to truly create an efficient peer recognition program:
1. Regular Revisions:
Change is constant, and the general human tendency is such that we tend to get bored whenever anything around us is monotonous. Thus, even the most well-crafted and efficient peer recognition programs run the risk of being monotonous and users becoming disinterested after a while.
Every organization is encouraged to run internal surveys, carefully analyze data and make changes to the peer recognition program at regular intervals. This shall keep the whole concept fresh and engaging for all the employees. It shall also help alter flaws in the program or replace some parts that do not resonate with the employees.
2. Use of Data:
The data gathered from the peer recognition program is highly integral to the overall growth of the organization. It offers an unparalleled insight into the productivity and performance of the employees on a regular basis. The opinions formed by their colleagues and how successfully they are using the program to push each other to do better. So once the peer recognition program is implemented, keep an eye on the data to improve or expand the program.
Crafting a good peer recognition program is definitely a major task at hand; however, implementing this is an even bigger endeavor. While much of this shall require in-depth planning and plenty of resources, things can be made simpler by scheduling a demo with Team PeerFives, who not only offer you a customized peer recognition program but shall also offer you a peer recognition tool like no other. Visit our website to know more about it.